Claire’s Sells North American Business for $104 Million

Jewelry retailer Claire announced on Wednesday its decision to sell its North American operations to private equity firm Ames Watson for $104 million in cash.

The agreement, as outlined in court documents filed on the same day, aims to ensure that Claire’s brand continues to be a well-known retailer for teens, tweens, and young girls around the globe.

Ames Watson, which owns athletic apparel brands like Champion Teamwear and Lids, will be acquiring the Claire brand along with up to 950 of its stores, according to the same documents.

Claire’s has put a halt to “abolishing business sales” at its stores that are for sale, though it will keep selling liquidation items in other locations.

Earlier this month, Claire filed for bankruptcy in Delaware, citing over $690 million in debt. This isn’t the first time; the company previously filed for bankruptcy back in 2018. Currently, it operates over 2,300 stores across 17 countries in North America and Europe.

Lawrence Berger, co-founder of Ames Watson, expressed in a statement the company’s commitment to investing in Claire’s future by retaining a significant retail presence in North America.

Ames Watson’s offer includes non-cash components as part of the transaction, such as assuming certain debts owed to Claire’s vendors and landlords, hiring existing retail staff in the stores they acquire, and providing credits to help manage some of the existing debt of the bankrupt entity.

Claire is set to seek court approval for the sale during a hearing on Thursday in Wilmington, Delaware.

In recent years, Claire’s has faced challenges including rising competition, high rental costs, and the impact of new tariffs on imports from countries like China, Thailand, and Vietnam.